I think it would be nice to see some type of group/firm category. Maybe projects could be submitted that were done throughout the previous year, not necessarilly done just for the competition. Maybe have a student group category and a professional studio category. Prizes wouldn't have to be anything great for the professional category. I think if you're just submitting something you've done previously that just some notariety would be enough.
*edit* Don't you hate it when you post and then remember a few days later that there is already a category for what you suggested. I'm not sure why I didn't remember the incredible animations I saw here:
http://www.cgarchitect.com/news/newsfeed.asp?nid=3776
sorry. Although the student group might be a nice addition.